ICAI seeks amendment of CA Act
THE Institute of Chartered Accountants of India wants to be allowed to conduct training classes abroad. It has sought the Government's help to amend the CA Act to enable this. This was disclosed here on Friday by the institute's President, Mr ...
MERGERS & ACQUISITIONS
Jindal Stainless to acquire cold-rolling mill
JINDAL Stainless Ltd is all set to acquire a cold-rolling mill in a neighbouring country to supplement its existing capacity, according to a company release. The company currently has hot-rolling capacity of seven lakh tonnes and cold-rolling ...
Floatels India takes over Manacaud Hotel
FLOATELS India Pvt Ltd, which owns the Poovar Island Resort near Thiruvananthapuram, is in an expansion mode. The company has taken over the Manacaud Manor Hotel located on Thiruvananthapuram's arterial Mahatma Gandhi Road and is also in the ...
Kanoria Chem scores well on Crisil governance rating
CRISIL has assigned "CRISIL GVC Level 3" rating to Kanoria Chemicals & Industries Ltd. The governance and value creation (GVC) rating indicates that the company's capability with respect to creating wealth for all stakeholders, while adopting ...
Gujarat Ambuja adds 1 mt to capacity
GUJARAT Ambuja Cements Ltd (GACL) has added one million tonnes of fresh capacity at its facility in Ropar, Punjab, bringing its total production capacity to 14.5 million tonnes. The expansion is aimed at strengthening GACL's presence in the ...
Rain Calcining plans $29-m expansion programme To set up greenfield project in Kuwait
RAIN Calcining Ltd (RCL), the Hyderabad-based Rs 333-crore calcined petroleum coke and power producer, has drawn up major growth plans involving a total capital outlay of $29 million which includes setting up a greenfield project in Kuwait and ...
Dabur Foods' pulp processing plant to go on stream by Sept Sees 10% savings on fruit procurement
DABUR Foods' fruit pulp processing plant at Siliguri is expected to become operational from September and it will result in at least 10 per cent cost savings on account of fruit procurement. Also, Dabur Foods is expecting some benefit to ...
REGULATORY BODIES & RULINGS
Accessing capital market Malegam panel moots tougher norms
A PROMOTER or director of a company debarred from accessing the capital market is likely to carry that stigma over to any other company that they may join. Companies whose promoters and directors have a previous record of restricted access to ...
TRADE & LABOUR UNIONS
Benz strike `a pointer to hard times' for German labour
THE strike at Mercedes Benz plants Germany's prestigious and largest luxury car manufacturer - has raised many eyebrows in European business and financial circles, as Germany's current labour problems look compounded and more ...
NTPC offering may be delayed beyond August
THE Disinvestment Department will start consultation process next week for clubbing the offer for sale of 5.25 per cent of the Government's equity in National Thermal Power Corporation (NTPC) with the initial public offering (IPO) proposed by the ...
Pennar Steel okays revamp scheme
HYDERABAD: The board of Pennar Steel Ltd (PSL), the city-based ailing company, at its meeting here on Thursday has approved a draft scheme for reconstruction and arrangement with regard to equity and preference capital. The scheme includes ...
AstraZeneca has big plans for India
ASTRAZENECA Plc plans to increase its business commitment in India, especially in view of the impending changes in the Indian patent laws that would bring them in line with developed countries, according to its Chairman, Mr Percy Barnevik. Mr ...
Tata Motors confident of higher Sumo sales
THOUGH the Multi Utility Vehicle (MUV) segment is getting crowded with the entry of newer players, Tata Motors Ltd (TML) is confident of sustaining its leadership position in the segment and posting higher sales this year compared to last year, ...
TAPS draws up plans to expand; eyes global markets
FROM being an auto component supplier, TAPS (Tata Auto Plastic Systems), an operating subsidy of the Tata group, is now poised to assume the role of system supplier in the domestic market and component supplier in the export markets. Speaking ...
Whirlpool shifts Raj Jain to China
IN keeping with the company's trend of a churning every three years, Whirlpool of India Ltd, the Indian arm of home appliances major Whirlpool Corporation, US, is set to see a change of guard at the helm. Mr Raj Jain, Managing Director, ...
Lupin to close down S. African subsidiary
INDIA'S tuberculosis drug maker Lupin Ltd is in the process of winding up its 60 per cent subsidiary in South Africa. The subsidiary, Lupin Laboratories South Africa (Pty) Ltd, is essentially a marketing outfit. It was started seven years ago ...
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